Nucor earnings beat by $0.08, revenue fell short of estimates
In a recent transaction, Sean McNealy, the Co-Founder and President of Abacus Global Management, Inc. (NASDAQ:ABL), acquired 86,207 shares of the company’s common stock. The purchase, which took place on June 4, 2025, was executed at a price of $5.774 per share, amounting to a total value of $497,759. This insider purchase comes as the stock trades near oversold levels, according to InvestingPro data, with shares down 26% in the past week and currently trading below their Fair Value.
Following this transaction, McNealy’s total direct ownership in the company stands at 12,455,707 shares. It’s noteworthy that 86,207 of these shares are held indirectly through a limited liability company jointly owned by McNealy and his spouse. While the company reported revenue growth of 73% in the last twelve months, InvestingPro analysis indicates rapid cash burn and short-term liquidity challenges. Get access to 10+ additional ProTips and comprehensive insider trading analysis with InvestingPro.
McNealy’s involvement with Abacus Global Management extends beyond his executive role, as he holds positions as both a director and a ten percent owner of the company. Despite current losses, analysts expect the company to achieve profitability this year, with projected earnings of $0.76 per share.
In other recent news, Abacus Global Management has announced a $20 million stock repurchase program to enhance shareholder value by potentially reducing the number of outstanding shares. This decision, approved by the Board of Directors, will be effective for eighteen months. Additionally, Piper Sandler analysts have maintained their Overweight rating on Abacus Life, despite a short report questioning the company’s asset valuation practices. The report alleged that Abacus Life underestimated life spans in its life expectancy valuations, leading to higher policy valuations. In response, Abacus Global Management refuted these allegations, citing their audited returns and long-standing industry relationships. The company also plans to release a detailed rebuttal and pursue legal action against the short seller. Furthermore, Abacus Global Management has adjusted executive salaries, with CEO Jay Jackson’s annual salary now set at $500,000, and introduced a new compensation structure that includes performance-based incentives. These developments underscore the company’s efforts to align executive incentives with performance and address recent challenges.
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